International tanker freight rates hit a nearly six-year high
According to data consulting research firm Clarkson, as of February 20, the average daily earnings of VLCC spot market increased by 24% compared to last week, reaching USD 146,000 per day, the highest level since April 2020. Guosheng Securities research report stated that on February 27, the shipping price for a 270,000-ton vessel from Ras Tanura in the Middle East to Ningbo (CT1) was USD 209,352 per day, and the shipping price for a 260,000-ton vessel from Malongo/Jeno in West Africa to Ningbo (CT2) was USD 224,195 per day. These figures highlight the current strong prosperity of the VLCC shipping market. (Securities Daily)
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